Rafiki's Englander Questions Yellen's Hawkish Tone

The video discusses the complexities of forecasting inflation, highlighting the lack of clear causes for recent inflation trends. It examines market reactions to Janet Yellen's comments and the Fed's strategy to maintain confidence despite uncertain data. The discussion includes potential structural issues in economic models, wage dynamics, and the importance of economic indicators. The video concludes with an evaluation of economic data and potential responses from the Fed.

What challenges do forecasters face when trying to understand inflation trends?

How did the speaker describe their early experience as a forecaster at the New York Fed?

What factors did the speaker mention that are not currently causing inflation issues?

What concerns did the speaker express regarding the Fed's credibility?

What indicators does the speaker believe could signal a problem for the Fed in terms of employment data?